The markets pushed to new all time highs yet again today after yesterday's pause. Traders seemed optimistic about tomorrows jobs report which sent the Dow 30 higher by 133, the S&P 500 higher by 18, and the Nasdaq 100 which posted a gain of 48. Tomorrow is a big day for economic news. The Unemployment rate will be the big focus first thing in the morning. The forecast is for the unemployment rate to remain the same. This number is always a market moving number so any deviance from what is expected will cause traders to respond.
Deere (NYSE: DE) shares shot up to new highs today after an announcement from the farm manufacturer that they would be buying Wirtgen, a German road-construction equipment maker for $5.2 billion in cash and debt. According to the company, the deal will "help pave Deere's expansion globally and in the construction space." Shares have been steadily higher all year long with gains topping the 20% mark.
Pinnacle Foods (NYSE: PF), the makers of Vlasic Pickles and Duncan Hines cake products saw shares move to new highs again today when it was announced that Conagra Brands (NYSE: CAG) was interested in a buyout. Reuters reported the rumor today and stated that "the food industry has been consolidating over the past few years as consumers look for healthier options." Investors have enjoyed healthy gains this year so far as Pinnacle is up over 23%.
Dollar General (NYSE: DG) shares popped 6.54% today after announcing positive earnings. Revenue came in higher by 6.5% from year ago as "consumer spending at its stores increased" and the retailer cut back on advertising costs. For the year shares have been mixed though, oscillating between positive and negative.